NuScale Power (NYSE:SMR) Stock Price Down 1.5% – Here’s What Happened

Shares of NuScale Power Corporation (NYSE:SMRGet Free Report) dropped 1.5% during trading on Friday . The stock traded as low as $8.39 and last traded at $8.4710. 38,658,189 shares changed hands during trading, an increase of 27% from the average daily volume of 30,395,574 shares. The stock had previously closed at $8.60.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SMR shares. B. Riley Financial reduced their price target on NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, April 24th. HSBC assumed coverage on NuScale Power in a research report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price target on the stock. The Goldman Sachs Group set a $9.00 price objective on NuScale Power in a research report on Friday, May 8th. Northland Securities set a $19.00 price objective on NuScale Power in a research note on Monday, May 11th. Finally, Truist Financial started coverage on NuScale Power in a report on Monday, July 13th. They issued a “hold” rating and a $10.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.15.

Get Our Latest Stock Analysis on SMR

NuScale Power Price Performance

The stock has a market cap of $3.10 billion, a PE ratio of -2.90 and a beta of 2.24. The company has a 50 day moving average price of $10.02 and a two-hundred day moving average price of $12.31.

NuScale Power (NYSE:SMRGet Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The business had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $7.00 million. The firm’s revenue was down 95.8% compared to the same quarter last year. As a group, equities analysts predict that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of NuScale Power

Large investors have recently modified their holdings of the company. Heck Capital Advisors LLC lifted its holdings in NuScale Power by 33.5% in the second quarter. Heck Capital Advisors LLC now owns 16,382 shares of the company’s stock valued at $164,000 after acquiring an additional 4,115 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of NuScale Power by 209.5% in the 2nd quarter. Handelsbanken Fonder AB now owns 108,000 shares of the company’s stock worth $1,083,000 after purchasing an additional 73,100 shares during the period. Adamsbrown Wealth Consultants LLC purchased a new position in shares of NuScale Power in the second quarter worth approximately $100,000. Hennion & Walsh Asset Management Inc. grew its position in NuScale Power by 30.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 84,199 shares of the company’s stock valued at $845,000 after buying an additional 19,679 shares during the period. Finally, Evanson Financial LLC purchased a new stake in NuScale Power during the second quarter valued at approximately $512,000. Institutional investors own 78.37% of the company’s stock.

About NuScale Power

(Get Free Report)

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.

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